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Home / General Information / Korea Business Success eZine / Korea Business
Success eZine – December 2010
Korea Business Success eZine – December 2010
Welcome to the December 2010 issue of the Korea Business Success eZine of Korean Consulting & Translation Service, Inc. We hope you find this information helpful to your business in Korea and with Koreans everywhere.
Breaking News: Dr. Linda Myers Shares Her Story of Her Time at SK Group Korea Business Central recently posted an interview with Dr. Linda Myers entitled “Working at the Top in SK Group: An Insider's Story”. This forty-five minute interview is very engaging, and Dr. Myers has a very clear and distinct way of speaking. Her interview generated one the most dynamic discussion forums on KBC, with over 170 comments posted. This past month the 9.9 with Daniel, one of KBC’s most popular segments, addressed "What should foreign companies do to be good business partners to their Korean-company counterparts?". There were some excellent points made by all the panelists, so if you have ten minutes, this is a very educational discussion to join in on. A new Topic Central page was also added to the site about Business Networking. It includes updates on networking related events and links to all the Chambers of Commerce event pages. It also includes some very informative discussions about Business Networking in Korea, including:
KBC is constantly expanding its content, and recently we’ve added “Relay Interviews” for both our Korean and English members, where we move the spotlight onto our members. Our first interviewee was one of our earliest KBC members, Vince Rubino, who works at the Korea Institute of Toxicology as a Global Marketing Team Leader. He offers some relevant insights to Korean perceptions of branding and marketing. Remember to improve your business Korean by checking out the Business Korean Review. The most recent edition helps Korea learners grasp the content in an article titled: "한미, 실무차원 FTA 협의 내일 마무리(종합)”. If you don’t have the time to go through an entire Korean article, here are just a few business words to help expand your vocabulary.
[ top ] LG Releases Foreign Executives MK Business News reports that LG Electronics has released five foreign executives after the resignation of former CEO Nam Yong. The new CEO, Koo Bon-joon, is attempting to shake things up after Nam was criticized for a difficult second quarter. Koo comes from a more traditional side of the corporate culture, and his comments and actions reflect this.
The Korean Herald reports that inflation dropped down to 3.3% in November, after rising to 4.1% in October due to a shortage in fresh vegetables. Fresh vegetable prices are a concern for Korea, as some vegetables now cost twice as much as they did this time last year. The BOK raised the interest rate to 2.5% in November, and were afraid they would have had to raise it again in December, if the inflation rate had not dropped back down to a workable number.
The Korean Herald reports that Korea Telecom (KT) will be buying NexR in order to strengthen its cloud computing services. Despite the takeover, NexR will still be run as an individual company, but work closely with KT’s cloud service business unit. KT plans to invest a further $100 million into cloud computing service over the next year.
Canadian Company, ProSep, Partners With Korean Kolon Group In another example of Korean companies strengthening position in the global market, Stockhouse.com reports that ProSep has joined hands with the Kolon Group to become the new ProSep Kolon Company Limited. Prosep is a gas and oil processing solutions company, while the Kolon Group represents an integrated South Korean construction, chemical, and advanced materials company. The CEO, Jacques L. Drouin, stated that “Korea has become one of the world's leading engineering, procurement and construction markets serving the global oil and gas industry.” [ top ]
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